Hill Island Financial LLC Acquires 2,689 Shares of Alphabet Inc. $GOOG

Hill Island Financial LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOG) by 37.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,808 shares of the information services provider’s stock after buying an additional 2,689 shares during the period. Alphabet comprises about 0.5% of Hill Island Financial LLC’s holdings, making the stock its 21st largest position. Hill Island Financial LLC’s holdings in Alphabet were worth $1,740,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. MorganRosel Wealth Management LLC bought a new position in Alphabet in the 1st quarter valued at about $26,000. Robbins Farley lifted its holdings in shares of Alphabet by 60.0% in the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after purchasing an additional 60 shares in the last quarter. Goodman Advisory Group LLC purchased a new position in shares of Alphabet during the first quarter valued at approximately $32,000. Greykasell Wealth Strategies Inc. bought a new stake in Alphabet during the first quarter worth $32,000. Finally, Elevate Wealth Advisory Inc. bought a new stake in Alphabet during the first quarter worth $34,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Up 2.1%

GOOG opened at $251.51 on Tuesday. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $256.70. The company’s 50-day moving average price is $223.05 and its two-hundred day moving average price is $187.91. The stock has a market cap of $3.04 trillion, a price-to-earnings ratio of 26.78, a PEG ratio of 1.66 and a beta of 1.00. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.67 billion. During the same quarter in the previous year, the firm posted $1.89 EPS. Alphabet’s revenue was up 13.8% on a year-over-year basis. As a group, equities analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were paid a dividend of $0.21 per share. The ex-dividend date was Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s dividend payout ratio is presently 8.95%.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total value of $5,992,350.00. Following the completion of the transaction, the chief executive officer owned 2,527,392 shares in the company, valued at $466,000,536.96. This trade represents a 1.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Kent Walker sold 23,820 shares of the business’s stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the sale, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 276,738 shares of company stock worth $59,135,475. 12.99% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on GOOG. BNP Paribas cut Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 26th. Roth Capital restated a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Lake Street Capital reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. KeyCorp set a $265.00 target price on shares of Alphabet in a research report on Wednesday, September 3rd. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $210.00 target price (up from $185.00) on shares of Alphabet in a report on Thursday, July 24th. Five research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $235.33.

Alphabet Company Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.